Facebook Inc. shares dipped 1.4% in extended trading Thursday after Verizon Communications Inc. became the latest high-profile company to pull advertising over how Facebook polices misinformation and hateful speech. A Verizon spokesperson said the decision was made until Facebook and Instagram “can create an acceptable solution that makes us comfortable.” In recent days, Ben & Jerry’s, Patagonia, Recreational Equipment Inc., and others said they plan to pause advertising on the social-networking giant, which depends almost entirely on ads for revenue. Last week, six organizations called on Facebook advertisers to suspend ad spending in July. The groups are the Anti-Defamation League, the NAACP, Sleeping Giants, Color of Change, Free Press, and Common Sense.
Verizon is latest to pull ads from Facebook over hate speech, misinformation on platform
Facebook Inc. shares dipped 1.4% in extended trading Thursday after Verizon Communications Inc. became the latest high-profile company to pull advertising over how Facebook polices misinformation and hateful speech. A Verizon spokesperson said the decision was made until Facebook and Instagram "can create an acceptable solution that makes us comfortable." In recent days, Ben & Jerry's, Patagonia, Recreational Equipment Inc., and others said they plan to pause advertising on the social-networking giant, which depends almost entirely on ads for revenue. Last week, six organizations called on Facebook advertisers to suspend ad spending in July. The groups are the Anti-Defamation League, the NAACP, Sleeping Giants, Color of Change, Free Press, and Common Sense. Read More...
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